TISA, the investments and savings membership organisation, has announced two new board members including one from Quilter.

Savers who take up the new Lifetime ISA should escape a penalty for withdrawing their money early if they have been made redundant or face dealing with critical illness.

Redundancy, marriage and illness are among major life events that a savings body has suggested should escape incurring an exit fee for the Lifetime ISA.

TISA, the financial services association, has confirmed plans to help the industry meet the challenge set out in the Financial Advice Market Review final report and in the Budget to make the pensions dashboard a reality.